We do not have a set fee-scale for commercial property work. However, we typically charge fixed fees of:
- 0.5% of the sale / purchase price; and
- 5% of the first years’ annual rent for a commercial lease
For very simple matters, we may agree to charge less. For very high value properties, we may also agree to charge lower percentages.
Where we offer a fixed fee, we will set out the scope of the work in our client engagement letter. If the transaction takes longer than anticipated, for reasons beyond our control, we will still charge the agreed fixed fee.
If you ask us to do work outside the agreed scope, then we will provide another quote for that additional work. The additional quote may be fixed or charged on a time basis - we will agree it with you before starting the additional work.
Payment by Time
For clients who prefer to pay on a time basis, we are always happy to do so and we will never spend longer on a matter than is required. We will charge at the hourly rates set out above, unless we agree to lower rates in our client engagement letter.
For commercial property work, timescales vary a great deal. It might be possible to conclude a simple lease in one week but many transactions take 1 - 3 months. We will always try to manage your expectations and work to your preferred timescales.